Category Archives: Stockbroker Discharged

LPL Financial, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct, Unauthorized Trading

Scott D. Williams-Prior LPL Financial Broker- Discloses Termination For Discretionary Trading- Franklin, TN

August 2018 – Franklin, TN

The FINRA records of Scott Douglas Williams, a broker who is not currently registered as a broker,  disclose  that in July 2018, he  was discharged from LPL Financial.  In connection with the termination,LPL Financial alleged that Williams “violated the firm policy regarding discretion”.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Discretionary Trading is when a broker makes the trades in a customer’s account without first consulting with the customer. Generally a firm requires that a written agreement be in place in which the customer agrees to permit the broker to trade without consulting with the customer first.

If you have losses in an account  handled by Scott Douglas Williams , contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

 

Centaurus Financial, Stockbroker Discharged

Larry Joe Templin Discharged by Centaurus Financial Over Bank Fraud Allegations-Temple, TX

July 2018- Temple, Texas

The FINRA records of  Larry Joe Templin ,  a  stock broker who was most recently  employed by Centaurus Financial ,  disclose that he was recently discharged.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Templin had been employed by Centaurus Financial  since 9/2006. In 5/2018 he was discharged for alleged bank fraud. Templin discloses business affiliations with Mathews, Ludwidk, Templin & Montgomery PC, Structured Associates of Texas, & Flagstone Advisors.

If you have questions about an account handled by Larry Joe Templin, call for a no charge consultation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Churning, Failure to Supervise, Fraud, Misrepresentation, Raymond James, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct, Unauthorized Trading, Unsuitable Investments

James E. Lyons-Former Raymond James Broker-Subject of $5M Customer Suit-Shreveport, LA

July 2018-Shreveport, LA

The FINRA records of former Raymond James broker James Edward Lyons disclose that he was recently barred from the securities industry and 1 pending and 5 prior customer disputes as well as a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In June 2018 FINRA barred Lyons from the securities industry for failing to appear for on the record testimony in connection with a FINRA investigation.

In May 2017 a customer of Raymond James was paid $400,000 to resolve allegations that Lyons churned their account and made fraudulent omissions in connection with the sale of limited partnerships and other investments.

In FINRA Case 11-3703 a customer of his former employer Morgan Keegan was paid $152,000 to resolve allegations that Lyons made unsuitable recommendations and traded the account without permission.

In currently pending FINRA Case 17-2973  a group of customers of Raymond James alleges that Lyons made unsuitable investment recommendations, traded their accounts without authority, over concentrated their accounts and committed fraud. The customer group is seeking damages of $5,000,000.

Lyons was employed by Raymond James  from 2/2013-5/2017 when he was discharged due to a customer allegation of unauthorized trading.Lyons discloses a business affiliation with Vinton Hotel  Project.

If you have questions about an account handled by James E. Lyons, contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Failure to Supervise, Misrepresentation, NYLife Securities, Ponzi Schemes, Stockbroker Discharged, Stockbroker Malpractice

Joel Flaningan-Former NYLife Broker-Sued Over Woodbridge Fund Sales-Fort Wayne, Indiana

July 2018- Fort Wayne, Indiana

The FINRA records of  Joel Vincent Flaningan ,  a  former stock broker who is not currently registered and who was last employed by NYLife Securities ,  disclose  a pending customer dispute involving the allegedly fraudulent Woodbridge Mortgage Investment Funds.

A customer of NYLife has filed a suit in Allen Superior Court alleging that material facts and the risks associated with an unregistered investment in Woodbridge Mortgage Investment Fund purchased in April 2017 were not disclosed. The customer seeks the return of his $65,000 investment less income received plus 8% interest, costs and attorney fees.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Woodbridge-A $1.2 billion Ponzi According to SEC

The U.S. Securities and Exchange Commission announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme.

According to the SEC’s complaint, unsealed in federal court in Miami, Florida, Robert H. Shapiro and a group of unregistered investment companies called the Woodbridge Group of Companies LLC, formerly headquartered in Boca Raton, Florida, defrauded more than 8,400 investors in unregistered Woodbridge funds.

“We allege that through aggressive tactics, Woodbridge and Shapiro swindled seniors into a business model built on lies, which the SEC’s Miami Regional Office staff moved to halt,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division.

“Our complaint alleges that Woodbridge’s business model was a sham,” said Steven Peikin, Co-Director of the SEC’s Enforcement Division. “The only way Woodbridge was able to pay investors their dividends and interest payments was through the constant infusion of new investor money.”

“Our complaint further alleges that Shapiro used a web of layered companies to conceal his ownership interest in the purported third-party borrowers,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.  “Shapiro used the scheme to line his pockets with millions of investor dollars.”

Flaningan was employed by NYLife Securities   from 19/2009-5/2018 when he was discharged by NYLife Securities when the company learned of his sale of Woodbridge Funds. Flaningan operated his insurance sales business under the dba name of Advanced Strategies Group.

If you have losses in an account handled by Joel Flaningan, call for a no charge consultation to learn about your options for recovery of damages.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Failure to Supervise, Misrepresentation, Raymond James, Stockbroker Discharged, Stockbroker Malpractice, Unsuitable Investments, Wells Fargo

George E. Mathis-Raymond James Broker-Discloses Customer Suit-The Villages, FL

June 2018-The Villages, Florida

According to FINRA records, George Edward Mathis, a broker who is employed by Raymond James, discloses a pending customer dispute, 4 prior customer disputes and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In a prior matter, FINRA Case 16-0226 a customer of Raymond James alleged that Mathis made unsuitable investments and misrepresented the investments from 9/2013-1/2016. The customer sought damages of $190,000. That case was settled for $70,000.

In currently pending FINRA Case 18-1663, a customer of Raymond James alleges breach of fiduciary duty by Mathis , breach of contract and fraud in the handling of his account from 1/2014-9/2016.. Damages of $65,000 are sought.

Mathis was discharged by Wells Fargo in 11/2011 for supplying inaccurate educational background information while preparing sales literature.

If you have questions about an account handled by George E. Mathis, contact us for a no charge consultation. You may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870